Kimco Realty (KIM) to Release Earnings on Thursday

Kimco Realty (NYSE:KIM) is set to post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Kimco Realty to post earnings of $0.41 per share for the quarter. Kimco Realty has set its FY 2024 guidance at 1.600-1.620 EPS and its FY24 guidance at $1.60-$1.62 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, analysts expect Kimco Realty to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.67 on Wednesday. Kimco Realty has a one year low of $16.86 and a one year high of $24.67. The firm has a 50-day moving average of $23.39 and a 200-day moving average of $20.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $15.96 billion, a P/E ratio of 45.07, a P/E/G ratio of 4.10 and a beta of 1.50.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.06%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Insider Activity at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Piper Sandler restated an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Truist Financial increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $23.55.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.